Chrysler Group
US$ 41.946 billion (2010) | operating_income = US$ 763 million (2010) | net_income = US$ -652 million (2010) | assets = US$ 35.449 billion (2010) | equity = US$ -4.489 billion (2010) | num_employees = 51,623 (2010) | owner = United Auto Workers Voluntary Employee Beneficiary Association (63.5%) Fiat S.p.A. (25%) U.S. Government (9.2%) Government of Canada (2.3%) | divisions = Chrysler Dodge Jeep Ram Mopar | subsid = Chrysler Australia Chrysler Canada GEM | homepage = Chryslergroupllc.com }} ' Chrysler Group LLC' is a multinational automaker headquartered in the Detroit suburb of Auburn Hills, Michigan. Chrysler was first organized as the Chrysler Corporation in 1925. On June 10, 2009, Chrysler Group LLC emerged from a Chapter 11 reorganization and announced a plan for a partnership with Italian automaker Fiat. Chrysler bankruptcy plan is announced. www.nytimes.com. Retrieved 2009-04-30. Fiat holds a 25% stake in the new company, with an option to increase its stake to 35%, and up to 51%, if it meets financial and developmental goals for the company. Fiat's stake cannot go beyond 49% until the government has been paid back in full. Corporate organization Executive management * C. Robert Kidder, Chairman * Sergio Marchionne, Chief Executive Officer * Richard Palmer, Chief Financial Officer * Olivier Francois, Chrysler brand and marketing * Ralph Gilles, Dodge and design * Michael Manley, Jeep and international sales * Pietro Gorlier, Mopar parts and service * Fred Diaz, Ram trucks and sales Source: Mopar * Mopar — Replacement parts for Chrysler-built vehicles. ** Mopar Performance, a subdivision providing performance aftermarket parts for Chrysler-built vehicles. Marques , one of Chrysler's bestselling vehicles]] * Chrysler — Passenger cars, minivan * Dodge — Passenger cars, minivan, crossover, and SUV * Ram — Trucks and commercial vehicles * Jeep — Off-road vehicles, SUVs and crossovers * Global Electric Motorcars (GEMCAR) — Battery electric low-speed vehicles PHEV Research Center Chrysler is in the Advisory Council of the PHEV Research Center. Chrysler Uconnect Web Chrysler LLC Uconnect Web is a system that brings wireless Internet connectivity to any Chrysler, Dodge, or Jeep vehicle, via a wi-fi "hot-spot". According to Chrysler LLC, the hotspot range will extend approximately from the vehicle in all directions, and will combine both WiFi and 3G cellular connectivity. Uconnect is available on several current and was available on several discontinued Chrysler models including the Chrysler 300, Aspen, Sebring, Town and Country, Dodge Avenger, Caliber, Grand Caravan, Challenger, Charger, Journey, Nitro, and Ram.Davies, Chris (June 26, 2008). Chrysler uconnect Web turns car into WiFi hotspot. SlashGear. Retrieved 2010-06-30. Fiat Fiat Auto plans to sell seven of its vehicles in the U.S. by 2014, while Fiat-controlled Chrysler Group is to supply nine models to sell under Fiat brands in the European market, according to a five-year plan rolled out on 21 April 2010 in Turin, Italy, by Fiat and Chrysler CEO Sergio Marchionne. At least five of the Fiat Auto models are expected to be marketed in the U.S. under its Lancia brand. Showing the level of integration envisioned, a Lancia product introduction timeline shows Chrysler-built compact and full-size SUVs going on sale in 2012 and 2014, respectively, as Lancias in both European and North American markets.http://www.usatoday.com/money/advertising/2010-04-21-fiat-splits_N.htm Sales and marketing Domestic sales It is reported that Chrysler was heavy on fleet sales in 2010, hitting as high as 56 percent of total sales in February of that year. For the whole year, 38 percent of sales of Chrysler went to fleet customers. The industry average was 19 percent. However, the company hopes to reduce its fleet sales to the industry average in 2011 with a renewed product lineup. Global sales Chrysler is the smallest of the "Big Three" United States automakers (Chrysler Group LLC, Ford Motor Company, and General Motors). Chrysler is the world's sixteenth largest vehicle manufacturer as ranked by OICA in 2009. Total Chrysler vehicle production was about 0.96 million that year. Marketing In 2007, Chrysler began to offer vehicle lifetime powertrain warranty for the first registered owner or retail lessee. The deal covered owner or lessee in U.S., Puerto Rico and the Virgin Islands, for 2009 model year vehicles, and 2006, 2007 and 2008 model year vehicles purchased on or after July 26, 2007. Covered vehicles excluded SRT models, Diesel vehicles, Sprinter models, Ram Chassis Cab, Hybrid System components (including transmission), and certain fleet vehicles. The warranty is non-transferable. However, after Chrysler's restructuring, the warranty program was replaced by five-year/100,000 mile transferrable warranty for 2010 or later vehicles. As of October 5, 2009, Dodge's car and truck line are now split into two, "Dodge" for cars, minivans and crossovers and "Ram" for light and medium duty trucks and other commercial-use vehicles. Chrysler plans for Lancia to co-develop products, with some vehicles being shared. Olivier Francois, Lancia's CEO, was appointed to the Chrysler division in October 2009. Francois plans to reestablish the Chrysler brand as an upscale brand. History The company was founded by Walter Chrysler (1875–1940) on June 6, 1925, when the Maxwell Motor Company (est. 1904) was re-organized into the Chrysler Corporation. Walter Chrysler had originally arrived at the ailing Maxwell-Chalmers company in the early 1920s, having been hired to take over and overhaul the company's troubled operations (just after a similar rescue job at the Willys car company). In late 1923 production of the Chalmers automobile was ended.Kimes, p. 257. In January 1924, Walter Chrysler launched the well-received Chrysler automobile. The Chrysler was a 6-cylinder automobile, designed to provide customers with an advanced, well-engineered car, but at a more affordable price than they might expect. (Elements of this car are traceable back to a prototype which had been under development at Willys at the time that Walter Chrysler was there).Kimes, pp. 292 and 1498. The original 1924 Chrysler included a carburetor air filter, high compression engine, full pressure lubrication, and an oil filter, at a time when most autos came without these features. Among the innovations in its early years would be the first practical mass-produced four-wheel hydraulic brakes, a system nearly completely engineered by Chrysler with patents assigned to Lockheed, and rubber engine mounts to reduce vibration. Chrysler also developed a road wheel with a ridged rim, designed to keep a deflated tire from flying off the wheel. This safety wheel was eventually adopted by the auto industry worldwide. Following the introduction of the Chrysler, the Maxwell was dropped after its 1925 model year run, although in truth the new line of lower-priced 4-cylinder Chryslers which were then introduced for the 1926 model year were basically Maxwells which had been re-engineered and rebranded.Kimes, pp. 292–293, and 901. It was during this time period of the early 1920s that Walter Chrysler assumed the presidency of Maxwell, with the company then ultimately incorporated under the Chrysler name. In 1998, Chrysler and its subsidiaries entered into a partnership dubbed a "merger of equals" with German-based Daimler-Benz AG, creating the combined entity DaimlerChrysler AG. Daimler subsequently acquired Chrysler, to the surprise of many stockholders, after the retirement of Chrysler CEO Bob Eaton. Under DaimlerChrysler, the company was named DaimlerChrysler Motors Company LLC, with its U.S. operations generally referred to as the "Chrysler Group". On May 14, 2007, DaimlerChrysler announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management, L.P., therefore being known as Chrysler LLC, although Daimler (renamed as Daimler AG) continued to hold a 19.9% stake." The deal was finalized on August 3, 2007. On April 27, 2009, Daimler AG signed a binding agreement to give up its 19.9% remaining stake in Chrysler LLC to Cerberus Capital Management and pay as much as $600 million into the automaker's pension fund. On June 10, 2009, the sale of most of Chrysler assets to "New Chrysler", formally known as Chrysler Group LLC was completed. The federal government financed the deal with US$6.6 billion in financing, paid to the "Old Chrysler", a new company called Old Carco LLC was set up to take over the remaining assets and liabilities, which remained in Chapter 11 bankruptcy.[http://www.bloomberg.com/apps/news?pid=20601103&sid=aBhumEPf5wbM Ramsey, Mike and Kary, Tiffany. "Chrysler Assets Said to Have Little Net Proceeds for Creditors" Bloomberg.com, 2009-06-23], retrieved on 2009-07-10. The transfer does not include eight manufacturing locations, nor many parcels of real estate, nor equipment leases. Contracts with 789 U.S. auto dealerships, who are being dropped, were not transferred. Discontinued brands * Maxwell (1904–1926) * DeSoto (1928–1961) * Valiant (1960) * Valiant (1960–1966) * Singer (1905–1970) * Fargo (1920–1972) * Hillman (1907–1976) * Humber (1868–1976) * Sunbeam (1901–1976) * Karrier (1908–1977) * Simca (1934–1977) * Barreiros (1959–1978) * Commer (1905–1979) * Imperial (1955–1975; 1981–1983) * AMC (1954–1988) * Eagle (1988–1998) * Plymouth (1928–2001) Environmental initiatives Electric vehicles The first electric vehicle produced by Chrysler was the 1992 Dodge EPIC concept minivan. In 1993, Chrysler began to sell a limited-production electric minivan called the TEVan; however, this minivan did not gain much popularity throughout its lifetime. In 1997, a second generation, called the EPIC, was released. It was discontinued after 1999. Chrysler intended to pursue new drive concepts through ENVI, an in-house organization formed to focus on electric-drive vehicles and related technologies. Established in September, 2007, Chrysler's ENVI division led by Lou Rhodes specifically deals with new all-electric and hybrid vehicles not based on existing models. Chrysler LLC brought a wide range of green vehicles to the Detroit Auto Show, including three concept vehicles that incorporate electric drive technologies: # The Dodge ZEO concept—short for "Zero Emissions Operation"—is an all-electric sport wagon combining a 64-kilowatt-hour lithium-ion battery pack with a 200-kilowatt (268 horsepower) electric motor. The rear-wheel-drive vehicle accelerates to in less than six seconds and has a range of at least . There is also a plug-in hybrid electric version. # The Chrysler ecoVoyager concept combines a similar battery pack and motor with a small hydrogen fuel cell to achieve a range. The vehicle can travel about on battery power alone and can accelerate to in less than eight seconds. # The Jeep Renegade concept, a plug-in hybrid, combines a lithium-ion battery pack with dual electric motors on each axle. The Jeep can travel on battery power alone and can travel with the help of its 1.5-liter, 3-cylinder clean diesel engine. The vehicle features a lightweight aluminum architecture. Chrysler is also currently planning at least three hybrid vehicles, the Chrysler Aspen hybrid, Dodge Durango hybrid, and the Dodge Ram hybrid including HEMI engines. Chrysler plans to use hybrid technology developed jointly with General Motors and BMW AG in vehicles beyond the two hybrid SUVs it had already announced to introduce in 2008. The Ram 1500 pickup will be available as a hybrid in 2010. The Ram HEMI Hybrid will combine a two-mode hybrid system with a 5.7-liter HEMI V-8 engine. For the 2009 Ram 1500, Chrysler is launching an improved version of its HEMI V-8 engine featuring variable valve timing and a four-cylinder mode with an expanded operating range. The result is more power and torque, along with a 4% increase in fuel economy. Chrysler has also been experimenting with a Hybrid Diesel truck for military applications. Chrysler has debuted: * the Dodge EV, an all electric sports car based on the Lotus Europa, with plans for a top speed and a range of . * plug-in hybrid vehicles (PHEVs), jolting the PHEV mass-production race: ** the Chrysler EV, a series plug-in hybrid with all-electric range, based on Chrysler Town & Country. ** and the Jeep EV, based on a Jeep Wrangler. Chrysler is exploring in-wheel electric motors for this vehicle. At the 2009 North American International Auto Show in Detroit, Chrysler unveiled the 200C EV Concept, a sports sedan with an all-electric range of and an extended range of about . It also added the Jeep Patriot EV, another range-extended electric vehicle. If Chrysler does release an all-electric sports car in 2010, it will be in direct competition with two North American startup companies: Tesla Motors and Fisker Automotive. Chrysler's ENVI division, which is dedicated to creating production electric drive vehicles, announced in September 2008 that Chrysler LLC will have electric vehicles in showrooms by 2010. They showed three "production intent" vehicles and stated that these are going to be the first of a broad portfolio of electric vehicles. Chrysler Chief Executive Bob Nardelli said government loans would help speed the electric technology to market. But if they aren't approved, Chrysler will have to spend limited resources on developing new technology and would have to make cuts elsewhere, possibly in employment and development of conventional products. "Unfortunately we have had to furlough many families as a result of the economy turmoil and certainly the downward spiraling in the industry," he said. "I'd like to make sure that we don't have to go further to be able to support advanced technology work." The Chrysler executives said the day is coming when the whole Chrysler fleet has electric powertrains. "The goal is to achieve fundamental technology, get economies of scale, improve our ability to make the future generations more robust, less cost, smaller, more powerful, better performance," Press said. "Ultimately it will lead to a transformation of our entire fleet that will be in some manner electric drive." }} Countries * Chrysler Australia * Chrysler Fevre Argentina * Chrysler Canada References Further reading * * * * Yanik, Anthony J. (2009). Maxwell Motor and the Making of the Chrysler Corporation, Detroit: Wayne State University Press ISBN 978-0-8143-3423-2 External links * Chrysler LLC corporate website * Chrysler Official UK brand site * Chrysler Scientific Labs and Test Services * Category:Fiat Category:Companies founded in 1925 Category:Car manufacturers of the United States Category:Marine engine manufacturers Category:Luxury motor vehicle manufacturers Category:Motor vehicle manufacturers of the United States Category:Truck manufacturers of the United States Category:Companies of the United States